Technology equipment financing approved by Tecumseh board

Wednesday

Jan 30, 2013 at 9:24 AMJan 30, 2013 at 9:25 AM

By Daily Telegram staff

TECUMSEH — The Tecumseh Board of Education approved a resolution Monday entering the district into an installment purchase agreement to buy technology equipment. The purchase of $182,810 worth of upgrades to the district’s computer system from Cisco Systems was approved by the board this past summer.

Todd Thieken, curriculum and technology director, said the equipment was installed in time for the start of the school year and this second resolution was needed to satisfy the requirements of Key Government Finance, Inc., the entity lending the money to the district. The resolution allows the district to secure an interest rate of 3.03-percent for the loan which will be repaid over five years.